Explor Resources Inc.
TSX VENTURE : EXS
FRANKFURT : E1H
PINK SHEETS : EXSFF

Explor Resources Inc.

December 07, 2011 09:38 ET

Explor Considers Hiring an European Consulting Firm

ROUYN-NORANDA, CANADA--(Marketwire - Dec. 7, 2011) - Explor Resources Inc. (TSX VENTURE:EXS)(PINKSHEETS:EXSFF)(FRANKFURT:E1H) wishes to announce that it intends to enter into a Consulting Agreement with an arms-length firm with a view to increase the exposure of the Corporation to the European marketplace. The Consulting Agreement is subject to TSX-V approval. The Consulting Agreement calls for a monthly payment and reasonable expenses. The Consulting Agreement will provide for the granting of 800,000 stock options at an exercise price of $0.33 (being the maximum discount to market) for two years. The options will have a four month hold and will vest over a one year period. Additional information will be disclosed upon TSXV approval.

Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the USA Pink Sheet (EXSFF) and on the Frankfurt Stock Exchange (E1H).

This press release was prepared by Explor Resources Inc. Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

About Explor Resources Inc.

Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Quebec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Quebec with approximately 33% in Ontario and 67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Company was continued under the laws of Alberta in 1986 and has had its main office in Quebec since 2006.

This document may contain forward-looking statements relating to Explor's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Explor's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not placed on such forward-looking statements. Explor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

Contact Information

  • Christian Dupont
    President
    800-388-8668 or 819-797-4630
    819-797-6050 (FAX)
    www.explorresources.com

    Investor Relations:
    Gary Lindsey
    Stratastar Marketing Group LLC
    720-273-6224